QEP Resources Price Target Raised to $38.00 at Raymond James (QEP)
Analysts at Raymond James upped their price objective on shares of QEP Resources (NYSE:QEP) from $37.00 to $38.00 in a research report issued to clients and investors on Tuesday. Raymond James’ target price indicates a potential upside of 24.30% from the stock’s previous close.
Shares of QEP Resources (NYSE:QEP) traded down 0.07% during mid-day trading on Tuesday, hitting $30.55. The stock had a trading volume of 455,521 shares. QEP Resources has a 1-year low of $25.93 and a 1-year high of $34.24. The stock’s 50-day moving average is $31.07 and its 200-day moving average is $30.7. The company has a market cap of $5.501 billion and a price-to-earnings ratio of 27.15.
QEP Resources (NYSE:QEP) last announced its earnings results on Thursday, May 8th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.13. The company had revenue of $883.90 million for the quarter, compared to the consensus estimate of $689.47 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. On average, analysts predict that QEP Resources will post $1.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Wednesday, May 21st.
A number of other analysts have also recently weighed in on QEP. Analysts at Ned Davis Research upgraded shares of QEP Resources from a “sell” rating to a “neutral” rating in a research note on Monday, May 19th. Separately, analysts at Barclays downgraded shares of QEP Resources from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 16th. They now have a $31.00 price target on the stock, down previously from $36.00. Finally, analysts at Barclays downgraded shares of QEP Resources from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 8th. They now have a $31.00 price target on the stock, down previously from $36.00. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.93.
QEP Resources, Inc (NYSE:QEP) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.